Around 17.1 million heat pumps need to be installed in the UK by 2040 to meet the Climate Change Committee’s (CCC) target, with 50% of homes needing heat pumps, research from emIMS has revealed.
Currently, only about 1% of UK homes have them.
By 2040, it’s forecasted that UK homes will increase to nearly 34.9 million, requiring 17.4 million homes to have heat pumps.
The average cost of installing heat pumps is around £10,900 today, though it is expected to fall to £8,860 by 2040.
To maximise their efficiency, epIMS advises homeowners and landlords to properly insulate properties and potentially increase radiator numbers, especially in older homes.
For funding, homeowners can look into the Great British Insulation Scheme for property assessments.
Craig Cooper, chief operating officer at epIMS, said: “Heat pumps are being lauded as a leading way to reduce energy consumption because they work by transferring heat from the surrounding environment rather than generating it.
“This makes them far more resourceful than a typical gas boiler.
“But they’re also far more expensive to install than a boiler, so it’s really important to understand how they work before committing to the investment.”
